Overview of Gold Elephant Limited
Gold Elephant Limited is a brokerage firm based in Hong Kong, offering a range of market instruments primarily focused on precious metals. Their trading platform options include the popular MT4, known for its user-friendly interface. Traders can access diverse trading options within the precious metals sector, including Spot Gold (XAUUSD) and Spot Silver (XAGUSD). The broker also provides competitive spreads, round-the-clock customer support, and access to educational resources to assist traders in making informed investment decisions.
Is Gold Elephant Limited legit or a scam？
Gold Elephant Limited's current regulatory status raises concerns as it lacks valid regulation. The claim of being regulated by the China Hong Kong CGSE (license number: 117) is suspected to be a clone or fraudulent representation. The regulatory agency in question, the Chinese Gold & Silver Exchange Society, classifies this as a “Suspicious Clone” with a Type AA License.
Moreover, the license details provided, including the institution name and contact information, do not appear to be valid or verifiable. This suggests a significant risk associated with trading or investing through this broker due to the absence of legitimate regulatory oversight and potential misrepresentation of regulatory credentials. Therefore, caution is advised when considering Gold Elephant Limited as a trading or investment platform.
Pros and Cons
Gold Elephant Limited offers a user-friendly trading platform, including the popular MT4, and provides a range of precious metal trading options, catering to diverse investment preferences. Their competitive spreads and 24/7 customer support enhance the trading experience, and the availability of educational resources can benefit traders looking to expand their knowledge. Additionally, the variety of deposit methods and swift fund processing contribute to convenience.
One significant drawback is the lack of valid regulation, which poses a notable risk to traders. Furthermore, the absence of detailed information about fees, such as overnight interest charges, may lead to unexpected costs for clients. Limited transparency regarding the regulatory status, including a suspicious clone license claim, raises concerns about the broker's credibility. The absence of a spread rebate for Spot Gold could be a disadvantage for some traders.
Products
Gold Elephant Limited offers two precious metals products suitable for general investors. The first is XAUUSD, which allows traders to engage in spot gold trading. This means they can buy or sell gold at the current market price without needing physical ownership. However, it's important to keep in mind that gold prices can be influenced by various factors like economic conditions, geopolitics, and currency fluctuations.
The second product, XAGUSD, enables investors to trade spot silver. Similar to spot gold trading, this involves buying or selling silver at its current market price. Silver presents an affordable alternative to gold for diversifying an investment portfolio. Traders should consider factors such as industrial demand and economic conditions when participating in spot silver trading with Gold Elephant Limited.
How to open an account with Gold Elephant Limited？
Opening an account with Gold Elephant Limited is a straightforward process that can be completed in a few simple steps.
First, you'll need to bind your mobile phone to your account for security purposes.
Next, submit your personal information, including identification details, to verify your identity.
Once your information is verified, you can proceed to activate your account, and you will receive a bonus as part of the activation process.
After activation, you can log in to your account using your credentials.
Finally, you can start exploring the broker's platform and begin trading or investing in various financial products.
Spread and Commission Fees
Gold Elephant Limited offers competitive terms for trading precious metals. For Spot Gold (XAUUSD), the spread is as low as 0.5, making it cost-effective for traders. The margin requirement is set at 2%, allowing traders to leverage their positions. There are no pending order distance restrictions, and the platform does not provide a spread rebate for Spot Gold. For Spot Silver (XAGUSD), the spread is 0.030, with a competitive margin requirement of $0.2. However, specific swap fees or overnight interest rates may apply, which can vary depending on market conditions. It's important for traders to stay updated on these rates, which can be found on the official website of Gold Elephant Limited.
Traders should also be aware of the professional investor certification requirement, which involves filling out a questionnaire and meeting specific criteria. Additionally, Gold Elephant Limited implements a market price model, and real-time buying and selling price differences are determined by the trading platform. Therefore, traders should consider these factors when planning their trading strategies and managing their positions on Gold Elephant Limited's platform.
Trading Platform
Gold Elephant Limited offers its proprietary trading platform, the Juxiang Gold APP, providing a professional and user-friendly experience for gold and silver investors. By downloading the app, users gain access to exclusive bonus rewards, enhancing their trading experience. The platform prioritizes fund security, ensuring that deposits and withdrawals are processed within seconds, and customer funds are safeguarded. Additionally, clients can benefit from 24-hour, year-round customer service, offering personalized assistance. The Juxiang Gold APP is available for both Android and iOS devices
Gold Elephant Limited also provides the widely used MT4 (MetaTrader 4) platform, catering to international traders. With MT4, users can trade seamlessly on computers, mobile phones, and tablets. The platform boasts over 80 embedded technical indicators and analysis tools, empowering traders with the resources they need to make informed decisions in the global financial markets. MT4 is a versatile and accessible choice for traders seeking a reliable trading experience.
Bonus
Gold Elephant Limited presents a range of enticing bonus offers to attract and reward its customers. These bonuses include a generous $30,000 bonus event for new customers, allowing them to receive bonuses based on the net value of their MT4 accounts. Additionally, traders can earn an iPhone 14Pro Max 256G for free by completing 888 lots or more in trading during the event period. Furthermore, the broker encourages its customers to refer friends, offering a $3 bonus reward for every trade made by referred friends and a $5 deposit reward for the friends themselves.
In addition to these bonuses, Gold Elephant Limited also runs an account opening activity where customers can receive an exclusive RMB 88 red envelope, which can be withdrawn, simply by completing the registration, deposit, and transaction closing process with the broker. Lastly, traders can enjoy significant spread rebates of up to $30 per lot during the $30 Spread Rebate Campaign, making it an attractive option for those looking to optimize their trading experience. Overall, these bonus offerings add value and incentive for both new and existing customers of Gold Elephant Limited.
Deposit & Withdrawal
Gold Elephant Limited offers multiple deposit options, such as UnionPay, VISA, Mastercard, and more. Deposits are fee-free, but bank wire fees are the customer's responsibility. Third-party deposits are not accepted for security reasons.
Withdrawals may incur a $3 fee for withdrawals under $50 or a 6% fee if the transaction amount is less than 50% of the total deposit. Customers can withdraw for free up to three times daily, with currency based on the linked bank card's location. Withdrawal processing takes around 2 hours, and funds typically arrive in 1-3 working days, depending on the bank's speed.
Customer Support
Gold Elephant Limited offers a dedicated and accessible customer support service to assist its clients. They provide online support through live chat and email, ensuring assistance is available 24 hours a day, 7 days a week, throughout the entire year. This means clients can reach out for help or inquiries at any time, making it convenient for traders and investors who may have questions or need assistance outside of regular business hours. Whether you prefer real-time communication through live chat or prefer to send an email with your queries, Gold Elephant Limited is committed to being there to assist you whenever you need it.
With their 7x24 customer service availability, Gold Elephant Limited aims to provide a reliable and responsive support system, enhancing the overall trading and investing experience for their clients. Whether you're a beginner or an experienced trader, having access to assistance around the clock can be valuable when navigating the dynamic world of financial markets.
Educational Resources
Gold Elephant Limited offers a comprehensive range of educational resources to equip traders and investors with essential knowledge of financial markets. Their educational materials cover a variety of topics, including trading market basics, charting fundamentals, and point value & point basis. These resources provide a solid foundation for individuals looking to understand how financial markets operate and make informed trading decisions.
In addition to market basics, Gold Elephant Limited's educational materials also delve into crucial aspects such as lot size and leverage knowledge, ensuring that clients understand the mechanics of trading and the associated risks and rewards. They also provide valuable insights into account-related data, CFD (Contract for Difference) knowledge, and offer guidance on both fundamental and technical analysis. With these resources, clients can develop a well-rounded understanding of financial markets, enabling them to navigate and trade with confidence.
Conclusion
Gold Elephant Limited is a brokerage firm that primarily focuses on precious metal trading, offering instruments like Spot Gold (XAUUSD) and Spot Silver (XAGUSD). They provide a user-friendly trading experience through platforms such as MT4 and their proprietary Juxiang Gold APP. The broker also offers various bonus programs, including a $30,000 bonus event for new customers and spread rebates.
However, a significant concern arises from the broker's current lack of valid regulation, which poses a notable risk to potential traders and investors. While Gold Elephant Limited offers several advantages, including competitive spreads and 24/7 customer support, the absence of regulatory oversight should be carefully considered by those looking to engage with this broker. Traders are encouraged to exercise caution and conduct thorough due diligence before choosing Gold Elephant Limited as their trading partner.
FAQs
Q: Is Gold Elephant Limited regulated？
A: No, Gold Elephant Limited currently lacks valid regulation, posing a risk to traders.
Q: What financial instruments are available for trading？
A: Gold Elephant Limited offers trading in precious metals, including Spot Gold (XAUUSD) and Spot Silver (XAGUSD).
Q: How is customer support availability in Gold Elephant Limited？
A: Customer support is available 24/7, year-round, offering dedicated assistance.
Q: What are the spreads and fees？
A: The spread for Spot Gold is as low as 0.5, while Spot Silver has a spread of 0.030. Specific fees may apply, including overnight interest charges.
Q: What are the deposit and withdrawal methods？
A: Gold Elephant Limited provides various deposit methods, including UnionPay, VISA, Mastercard, Bank wire, WeChatpay, and Alipay. Withdrawals are processed based on the linked bank card's location currency.
Q: What is the trading platform offered？
A: Gold Elephant Limited offers the Juxiang Gold APP and the popular MT4 platform for trading.
Q: Are there educational resources available？
A: Yes, Gold Elephant Limited offers educational materials covering various topics, including market basics, technical analysis, and more, to help traders make informed decisions.
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